NetScout Systems, Inc. (NASDAQ:NTCT) was the recipient of a significant decrease in short interest during the month of September. As of September 28th, there was short interest totalling 7,595,988 shares, a decrease of 23.7% from the September 14th total of 9,956,052 shares. Based on an average daily trading volume, of 1,023,462 shares, the short-interest ratio is currently 7.4 days. Approximately 9.8% of the company’s stock are short sold.

In related news, insider Michael Szabados sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $26.96, for a total value of $134,800.00. Following the transaction, the insider now owns 38,616 shares in the company, valued at $1,041,087.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Downing sold 3,000 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. The disclosure for this sale can be found here. Insiders sold 40,466 shares of company stock worth $1,021,472 in the last 90 days. 3.93% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in NTCT. Dimensional Fund Advisors LP boosted its position in NetScout Systems by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,309,070 shares of the technology company’s stock worth $187,381,000 after purchasing an additional 614,013 shares during the period. Millennium Management LLC boosted its position in NetScout Systems by 1,633.8% during the first quarter. Millennium Management LLC now owns 580,175 shares of the technology company’s stock worth $15,288,000 after purchasing an additional 546,712 shares during the period. Rice Hall James & Associates LLC bought a new stake in NetScout Systems during the second quarter worth approximately $10,309,000. BlackRock Inc. boosted its position in NetScout Systems by 3.2% during the first quarter. BlackRock Inc. now owns 9,569,744 shares of the technology company’s stock worth $252,163,000 after purchasing an additional 295,793 shares during the period. Finally, First Trust Advisors LP boosted its position in NetScout Systems by 54.0% during the second quarter. First Trust Advisors LP now owns 811,075 shares of the technology company’s stock worth $24,089,000 after purchasing an additional 284,383 shares during the period.

Shares of NetScout Systems stock opened at $21.99 on Friday. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 2.86 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.00 and a quick ratio of 1.90. NetScout Systems has a 12-month low of $21.58 and a 12-month high of $33.50.

NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, July 26th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $205.11 million during the quarter, compared to analysts’ expectations of $210.47 million. NetScout Systems had a return on equity of 3.79% and a net margin of 4.28%. The company’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. As a group, equities analysts predict that NetScout Systems will post 0.88 EPS for the current fiscal year.

A number of research firms recently commented on NTCT. Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. BidaskClub downgraded NetScout Systems from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Piper Jaffray Companies set a $31.00 target price on NetScout Systems and gave the stock a “buy” rating in a research report on Monday, August 13th. Finally, ValuEngine cut NetScout Systems from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.33.

NetScout Systems Company Profile

NetScout Systems, Inc engages in the provision of application and network performance management solutions. Its integrated hardware and software solutions are used by commercial enterprises, governmental agencies, and telecommunication service providers. The company was founded by Anil K. Singhal and Narendra Popat in June 1984 and is headquartered in Westford, MA.

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